Nepal today announced a NRs 506 billion budget for 2013-14, allocating Rs 16 billion for conducting the much-awaited Constituent Assembly polls in November.
Finance Minister Shanker Koirala announced the budget amounting to NRs 506 billion equivalent to USD 5.27 million.
The budget has allocated Rs 16 billion for conducting Constituent Assembly (CA) polls in a free, fair and impartial manner, Koirala said.
The budget has earmarked Rs 30 billion for implementing various hydropower projects at a time when the country is facing hours of load shedding during off seasons.
The Finance Minister said that the government will pursue an investment friendly policy and measures will be taken to protect foreign investments in the country.
The budget mainly aims to conduct the CA polls announced for November 19 and development projects of national pride, the Minister said.
The election government headed by Khil Raj Regmi announced the annual budget through ordinances as the Parliament does not exist in the country.
